Cofounder and CEO John Battelle told Techcrunch that a larger number includes an earlier convertible note that's been turned into equity.

The new funding was led by earlier investor True Ventures, and included participation from other previous backers Obvious Ventures, Transmedia Capital, Bloomberg Beta, other early angel investors, and Battelle himself.

NewCo organizes its events around target cities, with participating companies planning events for attendees in their offices. Last year, the 17-person startup orchestrated 11 events. This year, says Battelle, NewCo has plans for 15 cities, including in hubs where it hasn't hosted events in the past, including London, Detroit, Toronto, and Mexico City.

NewCo makes money through sponsorships, tours and ticketing, and from media products, including a daily newsletter. Battelle says the company has plans for both more media products and a new kind of event.

Battelle has long been part of the startup ecosystem, helping launch Wired magazine, then the The Industry Standard, a highly popular magazine during the dot-boom era that later folded.

Battelle also cofounded the online advertising network Federated Media Publishing, which sold its content marketing arm to publicly-traded LIN Media in 2014. (The programmatic ad side of the organization continues to operate as an independent company called sovrn.)